Former Bristol resident announces bid for Treasurer

Seth Magaziner announced his candidacy for Treasurer of Rhode Island Tuesday.

The 30-year-old former Bristol Democrat is one of several Rhode Islanders who has expressed interest in filling the General Treasurer’s seat. Others include Ernie Almonte, former Rhode Island General Auditor; and Frank Caprio, who served as General Treasurer from 2007 – 2010.

“I’m running because I think there are things I can do from that office to help promote economic growth an put people back to work,” said Mr. Magaziner. “My background as an investment professional suites me well for that office.”

While she has yet to make a public announcement, speculation of current Treasurer Gina Raimondo’s run for governor next year is high.

“I give credit to Treasurer Raimondo for taking on (pension reform),” Mr. Magaziner said. “The underfunding of the pension is a hard issue. To have it continue to be underfunded…the solution would be more painful.

“I only wish this happened years earlier.”

Mr. Magaziner attended Bristol public schools before moving to Washington, D.C. His father, Ira Magaziner, worked for the Clinton Administration, and now serves as CEO of the Clinton Health Access Initiative.

He later graduated from Brown University with a degree in history, and earned his MBA from Yale University. He became a teacher in rural Louisiana shortly after Hurricanes Katrina and Rita, and later became the vice president of Trillium Asset Management, a Providence-based investment firm that manages more than a billion dollars through sound investing.

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“I’m running because I think there are things I can do from that office to help promote economic growth an put people back to work,” said Mr. Magaziner. Indeed. And if he can be busy doing all of that, he might consider filling the role of Treasurer as well.